Terumo cuts conversion price on 0% convertible bonds due 2021

By William Gullotti

Buffalo, N.Y., June 22 – Terumo Corp. said it lowered the conversion price on its ¥50 billion zero-coupon convertible bonds due 2021 (ISIN: XS1139279845) to ¥1,905.7 from ¥1,912.3.

The new conversion price is effective retroactively from the day after the March 31 record date.

The adjustment is due to an extraordinary dividend of ¥29 per share approved by shareholders at a meeting on Tuesday.

Terumo is a medical equipment company based in Tokyo.

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